We had the amazing opportunity to renovate a primary bathroom for a wonderful client and they allowed us to bring in our realtors to evaluate the value of the home before and after the renovation. By performing a Comparative Market Analysis, our realtors gave us a baseline of what the property was worth before the renovation and then after the renovation. In this specific case (which you can find specifics on in the ‘Case Studies’ portion of our website), the value of the property increased by an extra 10% of what the renovation cost. So for every dollar the client spent on the renovation, the value of their property for resale increased by an extra 10 cents.
If you’re wondering if there is a secret ingredient to getting the most value-add out of your renovation, here are some items that I would recommend to increase the ‘sale-ability’ of your space:
- Choose neutral finishes
- Shop around for materials that have the same durability and look of more expensive products for a lower price point (one example would be porcelain tile in lieu of marble tile)
- Spend your money where it will make the biggest impact: fixtures and lighting
If you are renovating to sell immediately, I would recommend sticking with a ‘subway tile renovation’: lots of white, warm gray neutrals and nickel fixtures. Easy peasy.
If you’re renovating to live in your home and intend to stay there over the long term, make the space what you want. Throw in some colorful tile or a patterned tile on the floor. If a certain product will make you happy, then use it! We can work with you to make the selection work with the overall renovation and style of your home.
